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U.S. Construction Spending Dips in July

U.S. construction spending during July was estimated at a seasonally adjusted annual rate of $1.211 trillion, 0.6% below the revised June estimate, and 1.8% above the comparable month in 2016.  Year-to-date spending increased 4.7% from the year ago period to $691.2 billion.

Private construction spending in July fell 0.4% from June to $945.5 billion, with residential levels up 0.8% to $517.5 billion and nonresidential down 1.9% to $428 billion. See U.S. Census Bureau

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